Cyprus is ready to enter into long-term contracts for the supply of natural gas to mainland Europe, which seeks to quickly get rid of dependence on Russian fuel.
She stated this in an interview Bloomberg Cypriot Energy Minister Natasa Pilidis, Ukrinform reports.
“Europe is a good potential consumer for Cypriot gas, as the EU has confirmed that natural gas will remain an intermediate fuel until 2049 as part of the green transition, so companies can now enter into long-term contracts,” Pilidis said.
In addition, according to her, the EU intends to curtail cooperation with Russia as soon as possible, regardless of when the war in Ukraine ends.
In this regard, it is noted that at the beginning of 2023 Cyprus plans to start drilling a well at the offshore Afrodita field. According to preliminary estimates, its reserves are 125 billion cubic meters. The work is expected to be completed by 2027.
Cyprus is also considering the possibility of building a gas pipeline with a length of about 200 kilometers. According to calculations, it will be able to transport liquefied gas in the amount of about 3.5 billion cubic meters per year.
As Ukrinform reported, according to the EU, in the event of a complete cessation of Russian gas supplies in winter, the European Union will lack about 40-45 billion cubic meters, depending on the air temperature.